Before going to an in-depth application of Artificial Intelligence and Machine Learning, it is very important to comprehend how it fits into the world of data science. While the industry is rapidly changing, it is the perfect time to implement such technologies for our own benefits. The main purpose of data science is to give us an exact insight into the world of data.
Talking in the context of data, it could literally be anything. While at an individual level, the data might not play a significant role, for example, a person’s browsing history, their shopping habits, and so on, but collectively, it can give us the mindset of what exactly a society wants.
What is Artificial Intelligence and Machine Learning?
Artificial Intelligence can be best described as the capability of a machine to imitate and behave like human intelligence. Some of the major tasks of AI include problem-solving, reasoning, decision making, and activities that require acute perception. On the other hand, Machine Learning is nothing but a sub-field AI. Machine Learning is one of the mediums through which AI can be achieved. Whenever teaching machines come into play, ML is associated with it.
AI and ML into Marketing
In an omnichannel world, where customers often seek immediate and personalized experience with the brand, AI and ML have certainly been fruitful to the cause. Even to date, many companies force their customers through a liner engagement path, which often seems to be irrelevant with what the customer actually wants.
While brands cannot expect their customers to take the same path for purchase, it is very important to provide the customers with personalized experience where they can shop as per their needs and preferences. With the help of AI and ML, brands can optimize their digital transformation strategy for better customer experience.
With the help of machine learning, multiple algorithms and models can be generated to find the best-suited shopping experience for each and every individual. AI also has the capability to find the highest selling product so that businesses can focus more on the selling side, while the marketing could be done through automation.
Not only in the marketing department, AI and ML can also be implemented in other sectors such as banking to find fraudulent transactions and save online privacy, the medical sector where better precision is always required and government sectors for better management of all the overall works. With the collection of proper data, Artificial Intelligence and Machine Learning can achieve far greater heights.
To some extent, people are sceptical about the invasion of AI, and ML can create a huge scarcity of jobs on the market, but in actuality, it only shifts the job requirements. While a few years back, people would be required for the delivery of goods and even still does, but with AI, we have now the potential to deliver the same item into the customer’s doorsteps. Which only implies that while a job vacancy for the delivery boy is gone, a new opportunity is created for AI specialists. But, in the end, the invention of AI and ML has been proven beneficial for the greater good.